Summary
The #CherryChart campaign relied on the power of ambush marketing to launch the brand using the reach and influence of other brands including its direct competitors, making it truly a one-of-a-kind campaign for a brand run exclusively by other brands.
Challenge
Kotak Cherry, a new brand from Kotak is a late entrant in the highly competitive personal investment advisory space. The need of the hour was to adopt a disruptive strategy to capture mind and market share rapidly, on a frugal budget.
Objective
The campaign objective was to get the internet to launch and promote Kotak Cherry organically without even realizing it.
Strategy
Thus, was born the #CherryChart Campaign. In collaboration with a host of independent designers and content creators, we launched a campaign on Instagram using the design of the Cherry By Kotak logo as the new trending format. Each creator made their own version of #CherryChart without revealing the brand name. To make it easy for other creators and brands to latch onto the trend we got the creators to even post an empty #CherryChart to make their own version out of it.
Data
Data showed that the stock trading app market was already crowded and it was difficult to launch a new brand in the space. Primary research showed that the youth had a 26% greater affinity towards apps they thought were trending and cool as opposed to legacy brand apps. 31% preferred to use apps that were promoted by peers and seen to be quirky and smart. Using this data the campaign was devised to make the Kotak Cherry app smart and trendy using the power of social media alone
Solution
What followed was unprecedented. Brands and agencies quickly picked up the new #TrendingFormat and started posting their versions of #CherryChart. With zero media spends, our logo trended on Instagram for over a week with brands big & small using our logo in their social media posts. Over 100 brands jumped on to the bandwagon including Dell India, Sony Music Kids, Vi Mobile Network, Fever FM, Nearbuy and many more. Even our competitors took the bait and brands like Axis Direct, HDFC, Share khan and others started participating in this trending format and ended up promoting Cherry by Kotak. So how did we own up to the trend? Well, we put a Cherry chart of our own highlighting the services offered by Cherry. Followed by Instagram stories tagging each and every brand that participated as a thank you gesture for making the Cherry logo trend.
Results
#CherryChart was a phenomenal success. It broke the internet by garnering over 5 million impressions, reaching 2 million relevant people, seeing 100+ brands participating including competitors and trending for more than a week on Instagram. Making it truly one of a kind campaign for a brand run exclusively by other brands.
